Leighton Holdings (LEI) Slashed Profit Guidance By 25%-38%


Leighton Holdings (LEI) Slashed Profit Guidance By 25%-38%

Leighton Holdings (LEI) Slashed Profit Guidance By 25%-38%

Leighton Holdings Limited offers a variety of project development and contracting services to public and private sector clients in the Asia-Pacific region.

Leighton provides design management, civil engineering construction, building, mining, process engineering, telecommunications, waste management and infrastructure operation and maintenance and property development and management. Leighton is listed on the Australian Stock Exchange and is a member of the S&P/ASX 200.

Leighton Holdings has slashed its full year profit guidance by 25%-38% to between $400 million and $450 million.

The company said that a quarterly review of its operations had uncovered a significant deterioration in performance since its December review.

The company specifically blames unforseen problems from troubled Australian toll road and desalination plant projects.